Capitol Health Limited (ASX:CAJ) Merger Update
Merger Clearance Announcement
Capitol Health Limited (ASX:CAJ) has received informal merger clearance from the Australian Competition and Consumer Commission (ACCC) regarding its proposed merger with Integral Diagnostics Limited (ASX:IDX). This clearance is contingent on the divestment of Capitol’s clinic located in Melton, Victoria, as submitted by IDX.
Next Steps in Merger Process
Capitol is now set to seek final court orders to approve the scheme of arrangement. The Australian Federal Court had previously adjourned the Second Court Hearing to allow time for the ACCC’s clearance, which has now been granted.
Capitol outlined a timetable for key milestones following the Second Court Hearing, pending court approval of the scheme. Notable dates include the last trading day for Capitol shares on ASX on Wednesday, 11 December 2024, and the implementation date for the merger, expected on Friday, 20 December 2024. Following implementation, Capitol shares will be delisted from the ASX on Monday, 23 December 2024.
Executive Comments
Capitol expressed optimism regarding the ACCC’s decision and the upcoming steps. The company’s leadership remains focused on facilitating a smooth transition and integration post-merger.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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